Renault Group and Geely Holding Group have announced a framework agreement to expand their strategic cooperation in the production and sales of zero and low-emission vehicles through Renault do Brasil, further solidifying their partnership. As part of the agreement, Geely Holding will invest in Renault do Brasil, becoming a minority shareholder, which will grant them access to localized production, sales, and service resources. The partnership is subject to the execution of definitive agreements and regulatory approval.
This collaboration will see Renault Group’s advanced production facilities at the Ayrton Senna Complex in São José dos Pinhais, Paraná, used for manufacturing new zero and low-emission vehicles for both Geely Holding and Renault, in addition to the existing Renault vehicle lineup.
On the sales front, Renault do Brasil will become the distributor of Geely Holding’s zero and low-emission vehicle products in Brazil. This will enable Geely Holding to leverage Renault’s commercial expertise, accelerating the expansion of its business in Brazil, the leading automotive market in South America.
Luca de Meo, CEO Renault Group, said, “Renault Group and Geely have already gone a pretty long way together: we successfully launched a joint venture in Korea and, with Horse, we have designed a world leader in powertrain technology. Together, we have built trust and an effective working relationship. These are great assets that we want to leverage today with this new cooperation in Brazil. It will allow us to consolidate our industrial footprint in the state of Paraná and to further strengthen the position of the Renault brand on this key market.”
Eric Li, Chairman of Geely Holding Group, added, “Geely’s cooperation with Renault is part of its commitment to working with global partners in transforming and improving the industry in a sustainable direction. From South Korea to global powertrains, and now to Brazil, Geely’s relationship with Renault has moved forward. By working together, we mutually benefit from shared synergies and improved efficiencies to create greater value for our global users.”
Daniel Li, CEO of Geely Holding Group, noted, “In this transformative era of the global automotive industry, it makes sense to traverse to path ahead with friends and partners. To achieve quantitative and qualitative growth, we cannot be satisfied just staying comfortable in one place, we must go out to the world, adhere to long-term development, and commit to being open and collaborative.”
